Michigan Online Gaming Revenue Comes Back To Earth After Record March
Fresh off a monthly revenue record, Michigan online gaming took a tiny step backward in April.
For the month, Michigan online casinos and sports betting operators reported a combined $195.7 million in revenue, down 9.6% from March.
However, data from the Michigan Gaming Control Board shows a 20% increase in revenue compared to April 2022.
Michigan online gambling highlights for April
For April, the 15 online casinos in Michigan generated $159.4 million in revenue, down 7.2% from the $171.8 million reported last month. As for tax revenue, online casino operators generated $29.4 million in taxes in April.
April online gambling numbers:
- Online casino revenue: $159 million
- Online sports betting revenue: $36.4 million
- Total online gambling revenue: $195.7 million
March online gambling numbers:
- Online casino revenue: $172 million
- Online sports betting revenue: $44.6 million
- Total online gambling revenue: $216.4 million
According to Paul Costanzo of PlayMichigan, even though the revenue total was just shy of March’s record haul, the $159 million of April revenue is among the top five months ever nationally.
“April is typically a transition month for sports betting from March Madness into the slower summer months,” Costanzo added.
“The NCAA men’s and women’s Final Fours, the NFL Draft and the start of the NBA and NHL playoffs brought in plenty of action. But the 14.6% drop from 2022 continues to show a market that is on the other side of its peak.”
Online sports betting was down in April
According to the MGCB’s April report, online sports betting revenue stood at $36.4 million in April, down from $44 million in March.
Michigan’s online sports betting handle was $322.8 million, down nearly 21% from March. Most of March’s record-setting month ($407.7 million in handle) can be credited to the NCAA Basketball tournaments.
The state’s 15 online sportsbooks contributed $1.6 million in taxes. Detroit’s three casinos, MGM Grand, Motor City Casino and Hollywood Casino, paid the city $8.1 million in betting taxes. Tribal operators made $3.6 million in payments to governing bodies.
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